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ABU DHABI / WAM
The UAE consolidated government revenues increased to AED304.5 billion during the first nine months of 2018, up 4.8 percent on year, with
expenses picking up from AED259.3 billion over the first nine months of 2017 to as much as AED267.2 billion in the corresponding period of 2018, according to figures released by Federal Competitiveness and Statistics Authority.
The increased consolidated government revenues resulted in a surplus of AED 28 billion during the same period, driven by an oil rally during Q2 and Q3 of 2018 along with the consistent financial reforms being adopted and which contributed to diversifying income streams away from oil.
On the government spending level, gross current expenditure grew on annual basis of 4.8 percent during Q3 of 2018.